Luxembourg Future Fund invests €60M in Spire Global
Spire Global, formerly known as NanoSatisfi is one of the latest generation of space tech companies. It has gained reputation in building nanoscale satellites and making use of the vast data amount which can be generated by equipping them with sensing arrays.
As for now 48 Spire Global satellites are orbiting our planet. These small satellites supply data to a list of agencies, commercial entities and scientific organizations. Soon the fleet of Spire Global will grow to 68 satellites.
Luxembourg Future Fund has approved 70 million USD investment in Spire Global thus becoming one of the major investors in it. Somewhat earlier the company has secured 80 millions USD from well known venture funds – Lemnos Labs, RRE Ventures and Bessemer Venture Partners. Spire Global will open an office in Luxembourg. It will help to broaden use of Spire’s data.
Spire Global satellites are built to sense, collect and analyze the radio transmissions from Earth“s surface originated by vehicles, vessels and other sources.